a lot of the supposedly smart money was
really quite defensively positioned
going into the brexit vote I think
people were really unsure of what the
result was going to be and so a lot of
hedge funds basically took all risk off
the table and really didn't express any
real view on either way the result could
go
I think since the result has come out
there has really been a sharp D rating
of the prospects the British economy and
the value of the pound against the
dollar in the eyes of a lot of hedge
funds and other trading houses I think
that what we've seen is that a lot of
people are now thinking forward to where
this crisis might lead and looking at
the current political unrest or at least
a political uncertainty inside
Westminster in the UK I started to
really think about how long this crisis
could go on for
I think the position of being negative
on the outlook for the bitterish economy
in the coming months is actually
something now if a consensus between
most hedge fund managers I think a lot
of people are expressing that view in
some way or another the actual debate
going on is what impact Britain's vote
to leave the European Union is going to
have on the eurozone and how could this
crisis which at the moment is relatively
contained relatively focused on Britain
and British exposed stocks and the pound
how is this going to spread into Europe
is it going to spread into Europe and
are we going to see a reamer gence of
doubts over the integrity of the
European Union and the eurozone and the
European debt crisis